Jefferies analyst Julien Dumoulin Smith downgrades $Essential Utilities (WTRG.US)$ to a hold rating, and adjusts the target price from $44 to $41.
According to TipRanks data, the analyst has a success rate of 54.7% and a total average return of 5.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Essential Utilities (WTRG.US)$'s main analysts recently are as follows:
Post the Q3 report, the revision of the water segment's downward rate base to 6% from the anticipated 8%, partly because of limited Delcora visibility, was slightly under expectations. This could be attributed to a postponed East Whiteland transaction and wider industry difficulties. It's noted that the slowdown in the water segment prompted the reassessment of the stock's rating. With the successful re-rating, there is now perceived to be 'less appeal to a non-electric, hybrid gas/water utility'.
The firm maintains a positive outlook on Essential Utilities shares following a robust operational performance in Q3 and the reinstatement of long-term earnings per share guidance.
Note:
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